Dealing with Dementia, Part 2 of 4: Cost to the Individual
The cost to the individual with dementia is difficult to quantify. Because dementia is a progressive condition and one where aging is the greatest risk factor, it is logical that at the beginning and younger stages of dementia, the cost to the individual is minimal. As dementia progresses, so does the need for assistance with daily activities. This assistance often comes in the form of meal preparation, help with grooming and hygiene, transportation assistance, as well as help with many other daily activities.
For more information on dementia, see the first blog in this series, Dementia Defined.
Dementia patients can become so mentally restricted that they may place themselves in dangerous situations, such as roaming neighborhoods and getting lost. While the individual affected by dementia may need only a few hours of help per week at the beginning of symptoms showing, soon they may need around the clock supervision, not only for assistance with daily activities, but to protect them from themselves. The individual’s costs will include medical expenses as well as paying a caretaker.
Caretaking for an individual with dementia varies depending on the level and amount of care required. In Michigan, cost of care for an individual with dementia may fall somewhere in the following:
- An in-home caretaker may charge around $21 per hour or higher.
- Adult day care can run as high as $18,200 per year or more.
- Assisted Living facilities are available for those who can no longer live alone but are not ready for a nursing home, but may cost $6,000 per month or more.
- Around-the-clock-care in a nursing home can cost an individual $96,000 per year, or higher.
For more information on the costs of long-term care, see our previous blog post, Average Cost of Elder Care on the Rise.
The cost of care for someone with a dementia diagnosis can be daunting. An experienced and expert Elder Law attorney will ask the questions necessary to plan for the quality of care you or a loved one desire, while protecting assets from depletion. If you or a loved one are dealing with a dementia diagnosis, call Alles Law today for a free consultation to discuss your personal situation.
The diagnosed individual is not the only one affected by a dementia diagnosis. Next in this four blog series we will explore the cost to the family when a loved one is dealing with dementia. As always feel free to contact us for a free legal or estate based dementia planning consultation.